Las Palmas Condominium Owners'

Key facts from Las Palmas Condominium Owners''s documents

Community type

Condominium

Legal name

LAS PALMAS CONDOMINIUM OWNERS’ ASSOCIATION, INC.

Developer / declarant

LAS PALMAS CONDOMINIUM OWNERS’ ASSOCIATION, INC.

Governing law

Alabama Uniform Condominium Act of 1991, Ala. Code Sections 35-8A-101 et seq. (Section 1.01)

Assessments & dues

Each unit owner assessed proportionate share of Common Expenses equal to fractional ownership in Common Elements (Exhibit A). Type A: 1.8181818%, Type B: 3.636363%, Type C: 2.727272%. (Section 5.01 and 5.03)

Special assessments

May be levied for reconstruction/repair if insurance insufficient; also emergency borrowing allowed. (Section 11.05, Section 6.15)

Collections & liens

Association has automatic lien on each unit for assessments, late charges, penalties, interest, costs, attorney's fees. Lien effective upon recording Declaration; foreclosure allowed; lien has priority except for tax liens and first mortgag (Section 5.05, 5.06, 5.07, 5.09)

Reserves & fees

Association shall establish and maintain adequate reserve fund for periodic maintenance, repair, replacement of Common Elements out of regular assessments. (Section 6.13)

Pets

Only Unit Owners may keep pets; Board may establish rules per By-Laws Article XIII. (Section 7.08 K)

Leasing & rentals

Yes, units may be leased subject to conditions. (Section 7.05)

Parking & vehicles

Motorcycles, motor bikes, motor scooters may not be operated to annoy or disturb. (Section 7.08 I)

Architectural approval

Yes, for alterations to unit portions not maintained by Association, work jeopardizing building safety, or impairing easement. Approval needed from owners of all other units in building and Board. (Section 9.01 C)

Home business

Incidental personal professional use allowed (library, records, phone calls). No commercial use except leasing. (Section 7.01, Section 7.04)

Maintenance

Association responsible for roof as part of exterior walls and support. (Section 9.01 A i (outside walls, load-be)

Insurance

Property insurance covering Common Elements, units, fixtures, equipment within units (except owner improvements). Includes fire, extended coverage, perils. Liability insurance minimum $1,000,000 per occurrence. Flood insurance if in flood z (Section 10.05)

Use restrictions

Each unit used only as residence for resident, family, guests; no subdivision of units without amendment. (Section 7.01)

Voting & meetings

48 Type A units: 2 votes each; 2 Type B units: 4 votes each; 2 Type C units: 3 votes each. Aggregate 110 votes. No voting right for Association if it owns a unit. (Section 6.04)

Amendments

By vote of not less than 75% of Unit Owners according to proportional ownership; written instrument recorded. For structural alterations, requires 75% vote and written consent of record owners of liens affected. (Recitals, Section 9.02 B, Article XVIII)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.